STX OSV to Double Brazil Output on Petrobras Spending
This article is for subscribers only.
STX OSV Holdings Ltd., the biggest maker of oil-rig support vessels, plans to double capacity in Brazil as Petroleo Brasileiro SA works through the world’s largest oil-exploration investment plan.
The offshore-vessel maker will begin production at a second yard in Pernambuco, northeast Brazil in 2012 and begin deliveries the following year, Chief Executive Officer Roy Reite said in a Nov. 12 interview. Alesund, Norway-based STX OSV has orders for eight ships to be built at the new facility.